Revance Therapeutics (RVNC) Sets New 12-Month Low at $20.14

Revance Therapeutics Inc (NASDAQ:RVNC)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $20.14 and last traded at $20.30, with a volume of 7393 shares traded. The stock had previously closed at $20.95.

A number of equities analysts have commented on RVNC shares. Guggenheim upgraded shares of Revance Therapeutics from a “neutral” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Friday. Cantor Fitzgerald restated a “buy” rating and set a $50.00 price objective on shares of Revance Therapeutics in a research report on Friday, September 14th. JMP Securities downgraded shares of Revance Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, September 17th. Zacks Investment Research downgraded shares of Revance Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Finally, ValuEngine upgraded shares of Revance Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. Revance Therapeutics currently has an average rating of “Buy” and an average target price of $46.50.

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The stock has a market capitalization of $776.37 million, a P/E ratio of -5.07 and a beta of 1.35.

Revance Therapeutics (NASDAQ:RVNC) last posted its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.04. Revance Therapeutics had a negative net margin of 4,205.52% and a negative return on equity of 61.45%. The business had revenue of $2.36 million for the quarter, compared to analysts’ expectations of $0.49 million. As a group, equities research analysts predict that Revance Therapeutics Inc will post -3.81 earnings per share for the current year.

In other news, insider Cyril Allouche sold 2,188 shares of the company’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $23.72, for a total transaction of $51,899.36. Following the transaction, the insider now directly owns 6,938 shares of the company’s stock, valued at approximately $164,569.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.05% of the company’s stock.

Several large investors have recently bought and sold shares of RVNC. Wells Fargo & Company MN grew its stake in shares of Revance Therapeutics by 83.9% during the 1st quarter. Wells Fargo & Company MN now owns 25,635 shares of the biopharmaceutical company’s stock worth $789,000 after purchasing an additional 11,695 shares during the period. California State Teachers Retirement System grew its stake in shares of Revance Therapeutics by 13.4% during the 1st quarter. California State Teachers Retirement System now owns 40,990 shares of the biopharmaceutical company’s stock worth $1,262,000 after purchasing an additional 4,858 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Revance Therapeutics by 16.5% during the 1st quarter. Allianz Asset Management GmbH now owns 79,437 shares of the biopharmaceutical company’s stock worth $2,447,000 after purchasing an additional 11,271 shares during the period. Xact Kapitalforvaltning AB acquired a new position in shares of Revance Therapeutics during the 2nd quarter worth $209,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Revance Therapeutics during the 2nd quarter worth $1,178,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacturing, and commercialization of novel botulinum toxin products for various aesthetic and therapeutic indications. The company's drug candidate is DaxibotulinumtoxinA for injection (RT002), which is in phase III clinical trials to treat glabellar (frown) lines, as well as in phase II clinical trials for the treatment of cervical dystonia and plantar fasciitis.